Mercer Global Advisors Inc. ADV Has $20.60 Million Stock Position in FedEx Co. (NYSE:FDX)

Mercer Global Advisors Inc. ADV decreased its stake in FedEx Co. (NYSE:FDX) by 6.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,217 shares of the shipping service provider’s stock after selling 4,836 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in FedEx were worth $20,598,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. bLong Financial LLC acquired a new position in shares of FedEx in the 4th quarter valued at $391,000. Lodestone Wealth Management LLC acquired a new stake in FedEx during the 4th quarter worth about $461,000. Wedmont Private Capital boosted its position in FedEx by 4.1% during the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after acquiring an additional 91 shares during the period. GFS Advisors LLC acquired a new stake in FedEx during the 4th quarter worth about $26,855,000. Finally, Persium Advisors LLC acquired a new stake in FedEx during the 4th quarter worth about $530,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of NYSE FDX opened at $209.99 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $229.46 and its two-hundred day moving average is $260.32. The company has a market cap of $50.31 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.11 and a beta of 1.24. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.86 earnings per share. On average, equities analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s payout ratio is presently 34.63%.

Insider Transactions at FedEx

In other news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.87% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Jefferies Financial Group upgraded FedEx from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Citigroup decreased their price objective on FedEx from $305.00 to $267.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Piper Sandler lowered FedEx to a “neutral” rating in a report on Monday, February 3rd. Wells Fargo & Company reduced their price target on FedEx from $260.00 to $220.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Finally, Cfra Research upgraded FedEx to a “hold” rating in a report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $297.71.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.